Bitcoin fell below $77,000 on May 18 as selling pressure spread across the crypto market.
Summary
- Bitcoin’s drop below $77,000 came as ETF outflows and forced liquidations weakened short-term market sentiment.
- Fed minutes, jobs data and sentiment reports may shape rate expectations across markets this week.
- Nvidia’s May 20 earnings could guide AI stock demand and AI-linked crypto tokens this week.
crypto.news reported that U.S. spot Bitcoin ETFs recorded more than $1 billion in net outflows last week, while more than $661 million in crypto positions were liquidated within 24 hours.
The pullback erased part of Bitcoin’s CLARITY Act rally. Earlier reports said the bill cleared the Senate Banking Committee in a 15-9 vote and briefly pushed BTC above $82,000. That move faded as traders shifted back to macro risks, ETF exits and forced selling.
Fed minutes and jobs data enter focus
The U.S. calendar gives traders several events to watch from May 18 to May 22. Reports on pending home sales, weekly ADP employment changes, jobless claims, manufacturing activity and consumer sentiment are due through the week. The FOMC minutes are scheduled for Wednesday.
Markets will watch the Fed minutes for language on inflation and rate policy. crypto.news reported that recent PPI and CPI data raised concerns that the Federal Reserve may keep rates higher for longer. That setup can pressure Bitcoin and other risk assets when liquidity expectations fall.
Nvidia earnings test AI trade
Nvidia will report first-quarter fiscal 2027 results on May 20 at 2 p.m. PT, according to the company’s investor calendar. The release matters for crypto because AI-linked tokens often react when traders reprice demand for AI stocks and data-center growth.
Earlier market coverage showed why Nvidia matters to digital assets. crypto.news reported in February that strong Nvidia earnings helped lift Bitcoin and altcoins as investors moved back into risk assets. A strong report this week could support AI-related crypto names, while weak guidance may add more pressure.
Oil and Iran risks keep markets cautious
Oil prices remain another market driver. crypto.news reported that WTI crude futures climbed above $107 as stalled U.S.-Iran talks and Strait of Hormuz disruptions fed inflation concerns. Higher oil prices can keep rate-cut hopes under pressure and reduce demand for speculative assets.
The wider market also remains sensitive to political comments. President Donald Trump’s “clock is ticking” message to Iran helped push oil higher and added stress to crypto markets. Bitcoin’s next move may depend on whether macro data, Fed minutes and Nvidia earnings calm traders or extend the selloff.
